860-868 South Arlington Street, Akron, OH, 44306

Description

The Subject Property is a 3,840 SF building on 0.74 acres of land and a commercial lot across the street that consists of 0.85 acres that is currently being utilized for vehicle parking. The property is located in East Akron in close proximity to Interstate 77 and Interstate 76. The building was originally constructed as a 1,200 SF retail store and a 2,640 SF automotive
parts store.

The warehouse features 14'7" ceilings, five 13'5" x 12'5" exterior drive in doors, floor drains, a shop restroom, a new water heater, a slop sink, and mezzanine storage. There are three "bays" 30x51', 38x21', and 40x40'. The roof is a heavy rubber membrane that has been well maintained and there was just recently a new rooftop AC unit put in . The office space features
two large open areas, 4 private offices, and two restrooms.

Petermann Bus has occupied the building and 1.59 acres of land for the past 12 years. They are paying $5,306.04/month with a lease that runs through August of 2024.

CAP RATE: 9.69%
Net Operating Income: $44,472

The Subject Property is located in East Akron in close proximity to Interstate 77 and Interstate 76.